-
Posted Date : 05-Mar-2019 , 09:32:26 am | Posted By CASANSAAR
Life Insurance Corporation (LIC)- owned IDBI Bank has invited application for two deputy managing directors. LIC had completed acquisition of 51 percent stake in IDBI Bank in January. Currently, there are two DMDs at the bank - KP Nair and GM Yadwadkar who are due for retirement soon. The n...
Continue Reading... Category : Banking | Comments : 0 | Hits : 333
-
Posted Date : 05-Mar-2019 , 09:27:48 am | Posted By CASANSAAR
In light of similarities observed in suspect credit transactions into the account of Nupower Renewables Private Limited, owned by Deepak Kochhar, the Enforcement Directorate has decided to expand the scope of its investigation and examine other large loans sanctioned by the ICICI bank during the tim...
Continue Reading... Category : Banking | Comments : 0 | Hits : 253
-
Posted Date : 01-Mar-2019 , 09:17:09 pm | Posted By CASANSAAR
The government Friday appointed former Finance Secretary Hasmukh Adhia as chairman of state-owned Bank of Baroda (BoB). Bank of Baroda is set to become the third largest lender of the country after amalgamation with Vijaya Bank and Dena Bank effective 1 April. "Shri #Hasmukh Adhia, former...
Continue Reading... Category : Banking | Comments : 0 | Hits : 521
-
Posted Date : 28-Feb-2019 , 08:25:16 pm | Posted By CASANSAAR
The Union Minister of Finance & Corporate Affairs, Arun Jaitley said the Public Sector Banks (PSBs) are the lifeline of Indian economy. He said that if their health is not good, then economy at large will also suffer. The Finance Minister, Arun Jaitley was speaking at the Conference on 'Refo...
Continue Reading... Category : Banking | Comments : 0 | Hits : 227
-
Posted Date : 22-Feb-2019 , 03:06:22 pm | Posted By CASANSAAR
After charging her for corruption and cheating last month, the Central Bureau of Investigation (CBI) has alerted the immigration authorities at all the airports and entry-exit points across the country to inform it if former ICICI Bank CEO Chanda Kochhar + tries to leave the country. Highly place...
Continue Reading... Category : Banking | Comments : 0 | Hits : 463
-
Posted Date : 20-Feb-2019 , 10:34:08 pm | Posted By CASANSAAR
The government has approved recapitalisation of Rs 48,239 crore in 12 public sector banks, including fraud-hit Punjab National Bank. It will pump Rs 6,896 crore in Allahabad Bank, Rs 4,112 crore in Union Bank, Rs 4,638 crore in Bank of India, Rs 205 crore in Bank of Maharashtra and Rs 9,086...
Continue Reading... Category : Banking | Comments : 0 | Hits : 206
-
Posted Date : 19-Feb-2019 , 05:10:25 pm | Posted By CASANSAAR
Financial institutions that have lent money to IL&FS group companies could be collectively staring at a write-off of nearly Rs 30,000 crore, a source told Moneycontrol. That is because Rs 65,000 crore of the outstanding loans are to IL&FS groups classified in the ‘red’ categor...
Continue Reading... Category : Banking | Comments : 0 | Hits : 213
-
Posted Date : 05-Feb-2019 , 07:01:20 am | Posted By CASANSAAR
The board of IDBI Bank Monday proposed change in the name of the lender to either LIC IDBI Bank or LIC Bank following its takeover by Life Insurance Corporation. Last month, the insurance behemoth completed the acquisition of 51 per cent controlling stake in IDBI Bank, marking the entry of more t...
Continue Reading... Category : Banking | Comments : 0 | Hits : 764
-
Posted Date : 31-Jan-2019 , 10:24:50 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Thursday removed three state-owned banks from its weak-bank watch list, a move that will lift lending restrictions on them. "It has been decided that Bank of India (BoI) and Bank of Maharashtra (BoM) which meet the regulatory norms including Capital Conserv...
Continue Reading... Category : Banking | Comments : 0 | Hits : 555
-
Posted Date : 28-Jan-2019 , 08:42:36 am | Posted By CASANSAAR
In a bid to prevent big economic offenders like Vijay Mallya and Nirav Modi from fleeing the country, the government has empowered PSU banks to request lookout circulars (LOCs) against wilful defaulters and fraudsters, officials said on Sunday. The Home Ministry has also authorised the Serious Fr...
Continue Reading... Category : Banking | Comments : 0 | Hits : 505
-
Posted Date : 13-Jan-2019 , 03:18:45 pm | Posted By CASANSAAR
Private sector lender IDFC Bank said its name has been changed to IDFC First Bank Ltd with effect from Saturday. “...the name of the Bank has been changed from IDFC Bank Ltd to ‘IDFC First Bank Limited’ with effect from January 12, 2019 by virtue of ‘Certificate of Incorporat...
Continue Reading... Category : Banking | Comments : 0 | Hits : 355
-
Posted Date : 07-Jan-2019 , 09:27:33 am | Posted By CASANSAAR
Banking services are likely to be affected on January 8-9 as a section of PSU bank employees would go on a two-day strike in support of the nation-wide strike call given by 10 central trade unions against the government's alleged anti-worker policy. The All India Bank Employees Associat...
Continue Reading... Category : Banking | Comments : 0 | Hits : 429
-
Posted Date : 03-Jan-2019 , 10:34:55 pm | Posted By CASANSAAR
Powered by the business of Dena Bank and Vijaya Bank, Bank of Baroda will become larger than ICICI Bank from 1 April following completion of the amalgamation process of three state-run banks. After State Bank of India (SBI) and HDFC Bank, with businesses of Rs 45.85 trillion and Rs 15.8 trillion res...
Continue Reading... Category : Banking | Comments : 0 | Hits : 402
-
Posted Date : 02-Jan-2019 , 06:21:13 pm | Posted By CASANSAAR
The Union Cabinet approved the first-ever three-way merger in the history of Indian banking with the amalgamation of state-owned Vijaya Bank, Dena Bank and Bank of Baroda (BoB). "There will be no impact on the service conditions of the employees and there will be no retrenchment followi...
Continue Reading... Category : Banking | Comments : 0 | Hits : 257
-
Posted Date : 29-Dec-2018 , 09:47:57 am | Posted By CASANSAAR
Public sector banks have approved more than 1.12 lakh loan applications of MSMEs worth of 37,412 crore rupees under the '59 minutes' loan scheme launched by the government last month. GST-registered Micro, Small and Medium Enterprises (MSMEs) can take loan up to one crore in just 59 minutes...
Continue Reading... Category : Banking | Comments : 0 | Hits : 450
-
Posted Date : 18-Dec-2018 , 08:54:41 am | Posted By CASANSAAR
The Delhi High Court on Monday dismissed a plea challenging the LIC move to acquire 51 per cent stake in the Industrial Development Bank of India (IDBI). Justice Vibhu Bakhru rejected the petition by the All India IDBI Officers Association, which had opposed the move of Life Insurance Corporation...
Continue Reading... Category : Banking | Comments : 0 | Hits : 287
-
Posted Date : 18-Dec-2018 , 08:53:18 am | Posted By CASANSAAR
Minister of State for Finance Shiv Pratap Shukla informed Parliament that Public Sector Banks (PSBs) have recovered 2.33 lakh crore rupees worth of bad loans during the four years from financial year 2014-15 to fiscal 2017-18. In a written reply to the Lok Sabha yesterday, Mr Shukla informe...
Continue Reading... Category : Banking | Comments : 0 | Hits : 296
-
Posted Date : 15-Dec-2018 , 01:50:07 pm | Posted By CASANSAAR
Minister of State for Finance Shiv Pratap Shukla has clarified that Public Sector Banks (PSBs) do not have any plans to shut down their ATMs. His statement assumes significance amidst a report by the Confederation of ATM industry warning that nearly half of the 2.38 lakh machines run the risk of clo...
Continue Reading... Category : Banking | Comments : 0 | Hits : 416
-
Posted Date : 03-Dec-2018 , 06:58:18 am | Posted By CASANSAAR
State-owned Bank of Maharashtra announced on Sunday that AS Rajeev has joined the lender as its managing director and chief executive officer. "AS Rajeev has joined Bank of Maharashtra as managing director and chief executive officer on Dec. 2, 2018. Prior to this, he was executive director ...
Continue Reading... Category : Banking | Comments : 0 | Hits : 805
-
Posted Date : 14-Nov-2018 , 09:12:39 am | Posted By CASANSAAR
The board of Union Bank of India has cleared a proposal to raise up to Rs 600 crore by issuing shares to its staff under the employee share purchase scheme. The proposal was approved in a board meeting on Monday, the bank said in a regulatory filing. The bank proposes to raise capital through iss...
Continue Reading... Category : Banking | Comments : 0 | Hits : 323
-
Posted Date : 13-Nov-2018 , 09:43:47 am | Posted By CASANSAAR
Even as the government and the central bank remain reluctant to make the names of wilful defaulters public, four state owned banks have already made this information available on their websites. On November 2, the Central Information Commission sent a notice to the RBI and PM’s office askin...
Continue Reading... Category : Banking | Comments : 0 | Hits : 471
-
Posted Date : 09-Nov-2018 , 09:26:14 am | Posted By CASANSAAR
The government expects four public sector banks (PSBs) to graduate from the Reserve Bank’s prompt corrective action framework based on their improved financial performance. The government will cite this to persuade RBI to relax the PCA regime for the remaining seven banks so that they...
Continue Reading... Category : Banking | Comments : 0 | Hits : 591
-
Posted Date : 26-Oct-2018 , 09:28:54 am | Posted By CASANSAAR
Bank of Baroda (BoB), Dena Bank and Vijaya Bank will appoint valuers ahead of their merger. The three public sector banks have floated a request for proposal (RFP) to appoint valuers for an independent valuation of their respective banks for the proposed merger. "The boards of the three bank...
Continue Reading... Category : Banking | Comments : 0 | Hits : 3430
-
Posted Date : 16-Oct-2018 , 10:14:39 pm | Posted By CASANSAAR
Private sector lender ICICI Bank Tuesday said the RBI has approved Sandeep Bakshi's appointment as Managing Director and CEO of the bank for three years. After the resignation of Chanda Kochhar, who was facing inquiry, earlier this month, the bank's board had elevated Chief Operating Officer...
Continue Reading... Category : Banking | Comments : 0 | Hits : 510
-
Posted Date : 14-Oct-2018 , 08:34:05 am | Posted By CASANSAAR
The State Bank of India (SBI) has asked its users to register their mobile numbers, if not already done, with the lender if they want to continue internet banking services. The country's largest lender has, in a notification, said that if the registration of mobile numbers with the respective br...
Continue Reading... Category : Banking | Comments : 0 | Hits : 646
-
Posted Date : 07-Oct-2018 , 05:34:44 pm | Posted By CASANSAAR
Ruling out possibility of inorganic expansion, Punjab National Bank Managing Director Sunil Mehta said the bank is currently focussed on internal consolidation and making it financially healthy. With Rs 14,000 crore Nirav Modi episode getting out of scene, the bank is focussing on growth and recover...
Continue Reading... Category : Banking | Comments : 0 | Hits : 695
-
Posted Date : 04-Oct-2018 , 08:45:30 pm | Posted By CASANSAAR
Private lender ICICI Bank on Thursday said that it has accepted Chanda Kochhar's request for early retirement, the bank informed the stock exchanges. "The board of directors of ICICI Bank Limited, accepted the request of Ms Chanda Kochhar to seek early retirement from the bank at the ear...
Continue Reading... Category : Banking | Comments : 0 | Hits : 606
-
Posted Date : 04-Oct-2018 , 08:16:03 am | Posted By CASANSAAR
The BoM had hit headlines after Maharashtra police had nabbed its Chairman-cum-Managing Director Ravindra Marathe and five others for the alleged Rs 2,043-crore scam involving the prominent realtor, DSK Group of Pune. From October 1, the 51 branches - all in urban centres across India which...
Continue Reading... Category : Banking | Comments : 0 | Hits : 790
-
Posted Date : 01-Oct-2018 , 09:10:49 am | Posted By CASANSAAR
The country’s largest lender, State Bank of India (SBI), has lowered the ATM cash withdrawal limit to Rs 20,000 a day, from Rs 40,000. The lower limit will be effective from October 31. “In view of the increase in the number of complaints received by banks around fraudulent tran...
Continue Reading... Category : Banking | Comments : 0 | Hits : 469
-
Posted Date : 29-Sep-2018 , 08:33:26 am | Posted By CASANSAAR
The Reserve Bank of India has imposed a penalty of Rs 5 crore on Karur Vysya Bank for non-compliance of its directives. According to a RBI statement on Friday, the penalty was imposed for non-compliance with its directions on "Income Recognition and Asset Classification (IRAC) norms, r...
Continue Reading... Category : Banking | Comments : 0 | Hits : 904
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
